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☆ Stocks making the biggest moves midday: Horizon Therapeutics, Capital One, RH, Home Depot and more
▼ + stars: | 2023-05-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Western Alliance Bancorp — Western Alliance shares jumped 3.6% after Bank of America reinstated coverage on the stock with a buy rating. Home Depot , Lowe's — Shares of home improvement retailers Home Depot and Lowe's lost 1.4% and 1% in midday trading Tuesday. On Monday, Daniel Welch, a director at Seagen, disclosed the sale of 1,864 shares, a stake worth more than $370,000. GE HealthCare — The medtech company's shares gained nearly 3% after Oppenheimer initiated coverage with an outperform rating on Monday. GE HealthCare separated from parent company General Electric earlier in 2023 and began publicly trading on the Nasdaq Jan. 4.

☆ Vodafone to cut 11,000 jobs, sees big drop in cash flow
▼ + stars: | 2023-05-16 | by ( Paul Sandle | ) www.reuters.com time to read: +1 min

LONDON, May 16 (Reuters) - Vodafone's (VOD.L) new boss Margherita Della Valle said she would cut 11,000 jobs over three years to simplify the telecoms group, which she said "must change", as it forecast a 1.5 billion euro decline in free cash flow this year. "Our performance has not been good enough," said Della Valle, who was appointed permanently last month. Vodafone said it would generate about 3.3 billion euros of cash this financial year, compared with 4.8 billion euros in the year to end-March it reported on Tuesday, and around 3.6 billion euros expected by analysts. Growth in Africa and higher handset sales, however, enabled it to eek out a 0.3% rise in revenue to 45.7 billion euros. Vodafone has recently cut jobs in several of its big markets, shedding 1,000 in Italy earlier this year and a media report said it was looking to cut around 1,300 in Germany.

☆ Vodafone plans 11,000 job cuts in the UK and worldwide
▼ + stars: | 2023-05-16 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —Vodafone said Tuesday it would cut 11,000 jobs over three years, as the telecoms company unveiled a turnaround plan to revive its fortunes following years of poor performance. The job cuts would affect the firm’s UK headquarters and operations in other countries, Vodafone added in a statement. Within a challenging sector, Vodafone’s performance relative to peers had “worsened over time,” Della Valle said in a video posted to the company’s website. Shares in Vodafone have fallen 28% over the past year. Under its turnaround plan, Vodafone would invest more in its customer experience and also direct more resources towards Vodafone Business, serving corporate clients, which was growing in nearly all the company’s European markets.

☆ Vodafone shares drop 4% after record 11,000 jobs cut as CEO says telco 'must change'
▼ + stars: | 2023-05-16 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Vodafone announced plans to cut 11,000 jobs as part of a turnaround plan from the company's newly-appointed CEO Margherita Della Valle. Vodafone shares fell as much as 4% on Tuesday, after the British telecommunications firm announced plans to slash a record number of jobs and forecast a drop in free cash flow. To consistently deliver, Vodafone must change," recently appointed CEO Margherita Della Valle said in a candid statement on Tuesday. Vodafone reported 45.7 billion euros ($49.7 billion) in revenues for its fiscal year ended March 31, 2023, roughly unchanged versus the previous year. "What is going to change is the level of ambition, speed, [and] decisiveness of execution," Della Valle said in a recorded video on Tuesday.

☆ Italian fashion group Tod's sales jump in Q1, beating expectations
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

[1/3] Shoes of Italian luxury shoemaker Tod's are displayed in the window of the company's store in Zurich, Switzerland, April 25, 2019. REUTERS/Arnd Wiegmann/File PhotoMILAN, May 10 (Reuters) - Sales at Italian fashion group Tod's (TOD.MI) rose by 23% in the first quarter of the year, beating analysts' forecasts thanks to a strong performance in China and despite moderate growth in the Americas. "Considering the good sales trends we experienced in April and the excellent orders' backlog for the winter collections, I'm confident about the group's future results," said Tod's Chairman and CEO Diego Della Valle. In the United States sales rose 6.6%. Tod's CFO said he is confident of achieving the consensus sales figure for the year, currently at 1.1 billion euros.

☆ The best of Milan Design Week 2023
▼ + stars: | 2023-04-27 | by ( Marianna Cerini | ) edition.cnn.com time to read: +8 min

Milan CNN —The design world’s largest annual fair enjoyed a return to full pre-pandemic form with its 2023 showcase, transforming the city of Milan with hundreds of exhibitions, site-specific installations, pop-ups and public projects. Almost everywhere, the focus was on sustainable design, circular economy, material innovation and artistry combining craft with innovation. Some of the most interesting ideas were those that looked at waste – literally – to rethink what design can do when it uses what is already there. Shown in various stages of decomposition, the chair challenged viewers to approach products with the end of their lifecycle in mind. Top image: One of two bags design legend Gaetano Pesce created for Bottega Veneta’s Milan Design Week installation.

☆ A 'tinderbox' with no easy off-ramps: What the Sudan conflict means for the world
▼ + stars: | 2023-04-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +10 min

Smoke rises during clashes between the Sudanese Armed Forces and the paramilitary Rapid Support Forces (RSF) in Khartoum, Sudan on April 19, 2023. "We urge the Sudanese army to respect the ceasefire and its conditions to alleviate the suffering of innocent civilians. - | Afp | Getty ImagesNotorious Russian mercenary force Wagner Group has been linked to various commercial and military operations in Sudan. Italian citizens are boarded on an Italian Air Force C130 aircraft during their evacuation from Khartoum, Sudan, in this undated photo obtained by Reuters on April 24, 2023. "The RSF is likely to target oil infrastructure linking South Sudan with Khartoum and the export terminal at Port Sudan," Verisk Maplecroft's Hunter suggested.

☆ Italy to allow ChatGPT to return if OpenAI takes 'useful steps'
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +1 min

ROME, April 18 (Reuters) - Italy's data protection watchdog is ready to allow the return of the ChatGPT chatbot at the end of April if its maker OpenAI takes "useful steps" to address the agency's concerns, the authority's chief Pasquale Stanzione said in an interview published on Tuesday. Microsoft Corp-backed (MSFT.O) OpenAI took ChatGPT offline in Italy in late March after the watchdog temporarily restricted its personal data processing and began a probe into a suspected breach of privacy rules. "We are ready to reopen ChatGPT on April 30 if there is a willingness on the part of OpenAI to take useful steps. The data protection body led by Stanzione last week set out a list of demands which it said OpenAI must meet by April 30 to address its concerns. Italy was the first western European country to curb ChatGPT, but its rapid development has attracted attention from lawmakers and regulators in several countries.

☆ Pope wants light shed on 40-year-old mystery of missing Vatican girl
▼ + stars: | 2023-04-11 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

The daughter of a Vatican usher whose family lived in the Vatican, Orlandi, then 15, failed to return home on June 22, 1983 following a music lesson in Rome. The case, which has been the subject of on-and-off investigations in Italy and the Vatican, has drawn fresh worldwide attention following the release late last year of the Netflix series "Vatican Girl". In January, Vatican chief prosecutor Alessandro Diddi reopened a previous inconclusive Vatican investigation after he inherited files from his retired predecessor. Emanuela's older brother Pietro and the family lawyer, Laura Sgro, were meeting with Diddi in the Vatican on Tuesday afternoon. In an interview in Corriere della Sera ahead of the meeting, Diddi said Pope Francis wants "the truth to emerge without any reservations".

China and Russia have declared a "no limits" partnership and Xi has sought to position China as a mediator in the Ukraine conflict. [1/3] Members of Ukrainian special forces engage in zeroing their weapons prior to a mission, amid Russia?s attack on Ukraine, in the region of Bakhmut, Ukraine, April 6, 2023. But Ukrainian border guard Levko Stek, speaking in a video clip amid explosions, said Ukrainian forces did not sense any "ammunition hunger" on the Russian side. Ukrainian military expert Oleksander Musienko said Russian forces were "exhausted and cannot maintain the same pace of attacks" that they launched in February. "The Russian forces are preparing to organise defensive positions.

☆ Italy ex-premier Berlusconi has leukaemia, source says
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] Forza Italia leader and former Prime Minister Silvio Berlusconi attends a session of the upper house of parliament ahead of a confidence vote for the new government, in Rome, Italy, October 26, 2022. REUTERS/Guglielmo MangiapaneMILAN, April 6 (Reuters) - Four-times Italian prime minister Silvio Berlusconi has been diagnosed with leukaemia, a source close to the matter said on Thursday. The source confirmed a report by the Corriere della Sera daily. The 86-year-old Berlusconi has been treated in intensive care since Wednesday in a cardiac unit of Milan's San Raffaele hospital, after suffering breathing problems. Reporting by Milan newsroom, editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

☆ Why Florence has a complicated relationship with the over 15,000 American college students who come every year
▼ + stars: | 2023-03-29 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +5 min

Over 15,000 US students spend some time studying in Florence, Italy every year. Over 15,000 American students flock to the city every year, according to local newspapers, with estimates of 18,000 for 2023. Back in 2016, it was estimated that American universities bring over 150 million euros to the economy of Tuscany, Florence's region, per year. And, according to plenty of social media complaints and local reports, American students could be more considerate of the city that hosts them. Once, she asked some American students to keep it down a little, and one of them told her to buy some earplugs.

☆ Goldman's strategy to play the $3 trillion energy revolution
▼ + stars: | 2023-03-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

There's a $3 trillion energy revolution coming, and Goldman Sachs has a strategy to play it. Given this, here are some ways investors can play the new energy revolution: Solar and wind Overall, the biggest investments will be in renewable energy, according to the note. That means the U.S. will need to significantly ramp up its solar, wind and other renewable energy capabilities. Meanwhile, for General Electric , the IRA will directly benefit its portfolio of energy businesses, GE Vernova, including wind energy. Elsewhere, Goldman Sachs highlighted buy-rated Baker Hughes , saying it will get a boost from carbon capture and hydrogen projects.

Worries about potential contagion had also slammed bank shares in Asia and Europe as investors re-examined their risks, despite assurances from U.S. President Joe Biden and other global policymakers that the financial system is safe. In Europe, where some see lenders as less vulnerable, the banking index (.SX7P) first fell then recovered to rise 2.7%. Asian banking stocks had extended their declines overnight, with Japanese banks hard-hit despite reassurances from the Bank of Japan said about their capital buffers. Regulator FDIC had moved swiftly to close New York's Signature Bank SBNY.O as well as taking control of SVB. Citing people familiar with the matter, the WSJ said the investigators are also examining stock sales that SVB Financial Group's executives made days before SVB failed, adding that the Justice Department's probe involves the department's fraud prosecutors in Washington and San Francisco.

Banking giants Citi (C.N), Wells Fargo (WFC.N) and JP Morgan (JPM.N) were also 1%-3% higher in the pre-market. Japanese financial institutions have sufficient capital buffers to absorb losses caused by external factors, including risks caused by SVB's collapse, the Bank of Japan said. Traders currently see a 50% chance of no rate hike at that meeting, with rate cuts priced in for the second half of the year. The prospect of higher rates had been "the reason investors have been really excited about Japan bank stocks", Ikeda added. We just ask for a little bit of time because of the volume," FDIC employee Luis Mayorga told waiting customers.

☆ Pope says Ukraine war fuelled not just by 'Russian empire'
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

VATICAN CITY, March 10 (Reuters) - The war in Ukraine is driven by the interests of several "empires" and not just of Russia's, Pope Francis said in an interview published on Friday. Francis said the conflict was fuelled by "imperial interests, not just of the Russian empire, but of empires from elsewhere". He expressed a readiness to talk to Russian President Vladimir Putin to call for peace. Extracts were published on Friday by Italian dailies La Repubblica, La Stampa and Corriere della Sera. I have less physical resistance, the knee (problem) was a physical humiliation, even if the recovery is going well now," he said.

☆ Goldman Sachs upgrades Shell to buy, says oil giant can surge 40%
▼ + stars: | 2023-02-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Energy giant Shell could be a big winner going forward, according to Goldman Sachs. Analyst Michele Della Vigna upgraded the stock to buy from neutral and hiked his price target on the company's U.S.-listed shares to $85 from $74. "In our view, Shell has the highest quality combination of assets in the sector, with a leading global LNG and marketing businesses and strong chemical presence," Della Vigna wrote Monday. Della Vigna added that Shell has its lowest oil break-even price in recent history, also falling below current spot and average prices among other big oil companies in the European Union. "We expect this positive trend to continue, driven by material upside to operational performance in both deepwater and LNG asset uptime," he wrote.

Feb 19 (Reuters) - President Volodymyr Zelenskiy said in an interview published on Sunday that Ukraine would maintain its months-long defence of the eastern city of Bakhmut, mindful of the price paid in human lives. Bakhmut, in the frontline Donetsk region, had a pre-war population of 70,000 but now Ukrainian officials estimate fewer than 5,000 civilians remain. It is important for us to defend it, but not at any price and not for everyone to die," Zelenskiy told the daily. Russian forces have besieged Bakhmut since July when they captured two major towns farther north. "There are no grounds at this time for the Ukrainian military to leave Bakhmut.

☆ Russia's war on Ukraine latest: Zelenskiy says Russia suffers extraordinary losses
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +3 min

DIPLOMACY* U.S. President Joe Biden will visit Poland over Feb. 20-22 to mark the first anniversary of Russia's invasion of Ukraine on Feb. 24. * Italian Prime Minister Giorgia Meloni will travel to Kyiv on Monday to meet Zelenskiy, a political source in Rome said on Sunday. Meloni, who took office in October, has said she planned to visit Kyiv before the anniversary of Russia's invasion. * The United States has concluded that Russia has committed "crimes against humanity" during its nearly year-long invasion of Ukraine, Vice President Kamala Harris said. * U.S. Secretary of State Antony Blinken warned China's top Chinese diplomat Wang Yi at a Munich conference of consequences should China provide material support to Russia's invasion, while Harris said Chinese support would reward aggression.

☆ Italy faces new drought alert after another dry winter
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

MILAN, Feb 20 (Reuters) - Weeks of dry winter weather have raised concerns that Italy could face another drought after last summer's emergency, with the Alps having received less than half of their normal snowfall, according to scientists and environmental groups. Italian rivers and lakes are suffering from severe lack of water, the Legambiente environmental group said on Monday, with attention focused on the north of the country. Last July Italy declared a state of emergency for areas surrounding the Po, which accounts for roughly a third of the country's agricultural production and suffered its worst drought for 70 years. "We need to recover 500 millimetres in the north-western regions: we need 50 days of rain," he added. Latest weather forecasts do however signal the arrival of much-needed precipitation and snow in the Alps in coming days.

☆ Hunter Biden warns Steve Bannon, Rudy Giuliani, Roger Stone, and 11 others to preserve records for potential litigation following laptop scandal
▼ + stars: | 2023-02-12 | by ( Taiyler Simone Mitchell | ) www.businessinsider.com time to read: +4 min

Hunter Biden's attorney sent notices to 14 people at the center of the laptop scandal. Rudy Giuliani's attorney told Insider that Biden's counsel is "acting out of desperation." The personal life and business dealings of Hunter Biden, President Joe Biden's middle child, have been the center of Republican criticism. Twenty days before the 2020 election, the contents of Hunter Biden's laptop became a controversial and confusing political scandal, New York Magazine reported. Rocca, Lowell, Wengui's attorneys, and an attorney for Stone, Bruce S. Rogow, did not immediately respond to Insider's request for comment.

☆ Vodafone reports Q3 slowdown, hit by Germany, Italy and Spain
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 1 (Reuters) - Vodafone (VOD.L) reported a slowdown in its group service revenue growth to 1.8% in the third quarter from 2.5% in the second, driven by declines in Germany, Italy and Spain. The mobile and broadband operator reported a worsening performance in Germany, it biggest market, with a fall of 1.8% in service revenue, reflecting customer losses after it was badly prepared for past changes in legislation. Intense competition in Italy and Spain also continued to hurt, reflected in falls of 3.3% and 8.7% respectively. Britain, however, continued to perform strongly, with a rise of 5.3% driven by good customer growth and price increases. Reporting by Paul Sandle; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Vodafone travails require more than caretaker CEO
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 1 (Reuters Breakingviews) - Vodafone (VOD.L) needs more than an interim chief executive to dig itself out of its current funk. Sales fell 1.8% in Germany in the quarter ending December, which accounts for more than 30% of the group’s overall revenue. Della Valle is accelerating the group’s 1 billion euros cost-cutting plan, and implementing her predecessor’s decisions. But an interim CEO cannot take strategic decisions, such as whether or not to sell the Italian unit eyed by France’s Iliad - whose owner Xavier Niel has taken a 2.5% stake in Vodafone. Vodafone needs a permanent CEO.

☆ Intel CEO: new chip plant decision by year-end, not sure to be in Italy - press
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: 1 min

MILAN, Jan 20 (Reuters) - Intel (INTC.O) CEO Pat Gelsinger told Italian daily Corriere della Sera on Friday that Italy was only one of several countries being considered to host a new chip plant, and a decision should be reached by the end of the year. In her end-of-year news conference in December, Italian Prime Minister Giorgia Meloni said she considered an investment by Intel in Italy as highly strategic and would schedule a meeting with the company to explore ways to facilitate it. Alessia Pe, editing by Gavin JonesOur Standards: The Thomson Reuters Trust Principles.

☆ Kevin Spacey celebrated in Italy at first major speaking event since sexual assault allegations
▼ + stars: | 2023-01-17 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

TURIN, Italy — Making his first speaking appearance since sexual assault allegations derailed his career, actor Kevin Spacey used a colorful Italian term to thank the National Cinema Museum in the northern city of Turin on Monday for inviting him. “By presenting this award, they are making a strong defense of artistic achievement and for that they should be applauded,” Spacey said. After multiple allegations of sexual assault surfaced, the actor lost his starring role on the Netflix series “House of Cards” and saw other opportunities dry up. Spacey did not directly address the allegations while accepting the award or during the hourlong class. After the master class, fans lined up to take selfies and get DVDs signed.

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